Stuff that matters
Shares of AMTD Digital plunged 40% on Wednesday to snap an eye-popping rally fueled by retail investors this week that briefly took the Hong Kong-based fintech’s market value past that of Facebook-owner Meta Platforms. The company’s market capitalization closed above Read more
At the Romanian Black Sea port of Constanta dockers have worked for months to ship out Ukrainian grain in addition to their usual loads from Romania and its land-locked neighbours. Shipments arrive constantly. The grain, which is poured onto conveyor Read more
The London insurance sector is preparing to cover Ukrainian grains and fertiliser shipments through a secure corridor, voyages that may need up to $50 million of insurance cover per cargo, industry sources involved said on Wednesday. London’s marine insurance market Read more
The founding family of Italian luxury shoemaker Tod’s (TOD.MI) plans to buy out other investors for up to 338 million euros ($344 million) and take the group private in an effort to revive its fortunes by managing its diverse brands Read more
New orders for U.S.-manufactured goods increased solidly in June and business spending on equipment was stronger than initially thought, pointing to underlying strength in manufacturing despite rising interest rates. The Commerce Department said on Wednesday that factory orders rose 2.0% Read more
Carmakers are reporting lower demand in Europe and North America amid what analysts say is growing evidence that consumers are balking at higher prices and keeping their cash for necessities. Although some upmarket brands like Ferrari (RACE.MI) and Mercedes (MBGn.DE) Read more
As the world’s biggest soft drinks makers cut their Russian ties, local producer Chernogolovka is aiming for a 50% share of the country’s near $9 billion market, its boss said. A mass exodus of Western firms due to sanctions and Read more